2009-08-17-2008-06-01-2008-06-01

Purchased 100% interest in Tamdykol exploration block.

Arawak Energy Ltd., Jersey, U.K., (Toronto: ABG) has acquired 100% interest in the Tamdykol exploration block in western Kazakhstan from a local Kazakh company for C$10 million. Tamdykol is in the Emba oil and gas province and covers 275 square kilometers (67,700 acres). Success in the remaining exploration period will be followed by the right to a 19-year production period. A post pay out 10% royalty interest is held by local investors. Arawak plans to acquire 300 kilometers of 2-D and 50 square kilometers of 3-D seismic with the intention of identifying well locations for drilling in the first quarter of 2009. Arawak president and chief executive Alastair McBain says, "The acquisition of the Tamdykol block provides an additional large acreage position, under attractive pre-2004 fiscal terms at a reasonable cost. The company intends to explore for the same suprasalt, multi-zone oil reservoirs that we are successfully appraising and developing at Akzhar, Besbolek and Alimbai."